Communication by electronic means for environmental care: mandatory dissemination information, adjustments

2019 - YEAR OF EXPORT

COMMUNICATION “A” 6753
08/08/2019

TO FINANCIAL INSTITUTIONS,
TO FOREIGN EXCHANGE OPERATORS,
TO NON-FINANCIAL COMPANIES ISSUING CREDIT CARDS, TO TRUSTEES OF FINANCIAL TRUSTS INCLUDED IN THE LAW ON FINAN- CIAL INSTITUTIONS, TO REPRESENTATIVES OF FOREIGN FINANCIAL INSTITUTIONS NOT AUTHORIZED TO OPERATE IN THE COUNTRY, TO NON-FINANCIAL COMPANIES ISSUING PURCHASE CARDS:

Ref.: Circular
RUNOR 1 - 1482

Communication by electronic means for environmental care. Mandatory dissemination information. Adjustments

.

---

We address you to inform you that this Institution adopted the following resolution:

“- Replace, with effect from 10 business days counted from the dissemination of this communication, point 4.4.1.3. of the rules on “Communication by electronic means for environmental care” with the following:

“4.4.1.3. On the interest rate, in percent with two decimals, of fixed-term deposits in pesos corresponding to the shortest term offered to its clients – distinguishing between transactions over the counter or through “home banking” – with the following detail:

i) Nominal annual interest rate.

ii) Effective annual interest rate.”

Likewise, we send you the sheets that, replacing those previously provided, should be incorporated into the referenced rules.

Finally, it is recalled that on this Institution's page www.bcra.gob.ar, by accessing “Financial System - LEGAL AND REGULATORY FRAMEWORK - Compilations and summaries - Ordered texts of general regulations”, you will find the modifications made with texts highlighted in special characters (strikethrough and bold).

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications
Agustín Torcassi
General Deputy Manager of Financial Regulation

ANNEX

COMMUNICATION BY ELECTRONIC MEANS FOR
B.C.R.A. ENVIRONMENTAL CARE
Section 4. Information to be disseminated in customer service premises.

4.4.1.1. The one provided in point 4.5.

4.4.1.2. On the interest rates for overdrafts without agreements in current account and the compensatory and punitive interest rates of credit card financing offered to its clients, for transactions in pesos with the following detail:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

iii) Total financial cost (CFT).

iv) The highest and the lowest of the interest rates, when regarding the mentioned lines there is more than one rate, with its expression in the terms of the preceding points.

In all cases, the rates must be expressed in percent with at least one decimal.

The total financial cost must be placed in a privileged place with respect to the rest of the variables exposed. Its numerical value and the “%” sign must be identified in a legible and prominent manner according to one of the following criteria:

a) with at least twice the size – in identical font and preserving all proportions of stroke thickness, height and width – to that used to inform the level of the nominal annual rate; or

b) in a highlighted typography and/or in a prominent color – in identical font and size and preserving all proportions of height and width – with respect to that used to inform the level of the nominal annual rate.

4.4.1.3. On the interest rate, in percent with two decimals, of fixed-term deposits in pesos corresponding to the shortest term offered to its clients – distinguishing between transactions over the counter or through “home banking” – with the following detail:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

4.4.1.4. The scope of the deposit guarantee Law 24.485 and complementary rules (type of transaction, its condition of being included or not in the regime, percentage and amount guaranteed, exceptions, etc.), in accordance with the provisions of point 6. of the rules on “Application of the deposit guarantee insurance system”.

4.4.1.5. On the retail exchange rates offered by the entity. In every place where exchange transactions in bills and traveler's checks with clients are carried out, the retail exchange rates offered by the entity must be displayed, specifying separately any expense or commission if any, for the purchase and sale of bills and traveler's checks of the currencies with the highest volume of transactions.

Version: 3rd. COMMUNICATION “A” 6753
Effective:
23/8/2019
Page 2

B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL CARE”

CENTRAL BANK OF THE ARGENTINE REPUBLIC

CONSOLIDATED TEXT			SOURCE STANDARD					OBSERVATIONS
Sec.	Point	Para.	Comm.	Annex	Chap.	Sec.	Point	Para.
1.	1.1.		“A” 5886
	1.1.1.		“A” 5886
	1.1.2.		“A” 5886
	1.1.3.		“A” 5886
	1.1.4.		“A” 5886
	1.2.		“A” 5886
	1.2.1.		“A” 5886
	1.2.2.		“A” 5886
	1.2.3.		“A” 5886						S/Comm. “A” 6664.
	1.2.4.		“A” 5886						S/Comm. “A” 6279 and 6348.
	1.2.5.		“A” 5886
	1.3.		“A” 5886
	1.4.		“A” 5886
	1.4.1.		“A” 5886
	1.4.2.		“A” 5886
	1.4.3.		“A” 5886
	1.4.4.		“A” 5886
	1.4.5.		“A” 5886
2.			“A” 5886						S/Comm. “A” 6725.
3.	3.1.		“A” 6042			10.
	3.2.		“A” 6042			11.			S/Com. “A” 6188 y 6448.
	3.3.		“A” 6448			6.			S/Com. “A” 6664.
4.	4.1		“A” 6419			1.			S/Com. “A” 6462.
	4.2.		“A” 6419			1.
	4.3.		“A” 6419			1.
	4.4.		“A” 6419			1.			S/Com. "A" 6462, 6541 and 6753.
	4.5.		"A" 6419			1.			S/Com. "A" 6547 and 6721.
	4.6.		"A" 6419			1.			S/Com. "A" 6462.
5.	5.1.		"A" 6419			2.
	5.2.		"A" 6419			2.
	5.3.		"A" 6419			2.			S/ Com. "A" 6721.